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Armenian Finance Minister Vahe Hovhannisyan on Wednesday told lawmakers that the inflation trends have been continuously mitigating and the reports suggesting the country has experienced an “unprecedented” inflation are false.
“In December 2024, the 12-months [YoY] inflation was 1,5%, while the average inflation was 0,3%. This is the situation when inflation has approached the lower limit of the Central Bank's target range in conditions of an accommodative monetary policy,” he said at a state budget report hearing at a parliamentary joint committee meeting.
The figures in several other countries in the region were as follows, according to Hovhannisyan, Georgia – 1,1%, Albania- 2,2%, Azerbaijan – 2,2%, Moldova – 4,7%, Kyrgyzstan – 5%, Belarus – 5,8%, Russia – 8,4%, Kazakhstan – 8,7%.
“Recently I heard someone say that there is unprecedented inflation in Armenia. Someone was speaking about that. I want to say directly that these figures prove that such claims are absolute nonsense,” the minister said.